Things Entrepreneurs Should Know

A full calendar can feel like proof that your business is doing well. But what is all that activity actually producing? In this episode of Things Entrepreneurs Should Know, Chip Schweiger explores how busy businesses can still struggle with weak profits, repeated mistakes, and work that consumes more than it contributes. From customers who require more service than anyone priced to reports nobody...

Some of the most expensive decisions in a business begin with two words: “Sure, we can.” A custom request, an extra revision, or a project that doesn’t quite fit can seem reasonable on its own. But those commitments add up, taking time and attention away from more valuable work. In this episode, Chip Schweiger looks at why capable owners find it so hard to say no, how to spot the true cost of a ye...

Would more revenue make your business stronger? Or merely busier? When profits disappoint, or cash gets tight, the instinct is often to sell more. But growth can magnify weak pricing, thin margins, and working-capital demands just as easily as it can improve performance. In this episode, Chip Schweiger explores three different problems that often receive the same prescription: not enough revenue,...

Sometimes the biggest constraint on a growing business is the person who built it. As companies grow, the habits that once made them fast and successful can start holding them back. Decisions still flow through the owner. Employees wait for approvals. Customer relationships depend on one person. And before long, the business can only move as quickly as the owner can. In this episode, Chip Schweige...

It rarely happens all at once. A good customer asks for something special, a salesperson needs pricing flexibility, a manager wants their preferred vendor. And you say yes, because each decision makes sense in the moment. But string enough of those "yeses" together, and you end up with a business that's harder to run, more expensive to operate, and quietly less profitable than anyon...

Your biggest customer may also be one of the biggest risks in your business. A large customer can bring steady revenue, better utilization, and growth opportunities. But over time, that relationship can quietly begin shaping your staffing, pricing, capital investments, cash flow, and even your ability to say no. In this episode of Things Entrepreneurs Should Know , Chip Schweiger looks beyond the...

This week, enjoy an Encore presentation of one of the most popular episodes from the Things Entrepreneurs Should Know archives. Whether you’re tuning in for the first time or revisiting a classic, I hope you enjoy this timeless advice for business owners. I’ll be back next week with a brand new episode. Feeling the emotional whiplash of running your business? You're not alone. In this episode...

Cash flow crunch got you sweating? You’re not alone—and you’re not out of options. In this episode, Chip Schweiger cuts through the fluff and lays out exactly how unsecured lending can be a smart, strategic move for growth-minded business owners. Forget the stigma and scare tactics. Chip breaks down: Why even healthy businesses hit cash flow walls How unsecured lending works (and why it’s not just...

You’re working hard, but is your business bank account bleeding out behind your back? In this episode, learn the hidden profit leaks draining small businesses, right under their owners’ noses. Forget the obvious expenses; we’re talking about the silent killers: forgotten subscriptions, unchecked scope creep, underpricing, and more. Chip reveals the five most common ways businesses lose money witho...

Struggling to keep your business’s cash flow steady? You’re not alone. In this episode of Things Entrepreneurs Should Know, learn the essentials of cash flow management for small businesses—why it matters, the most common mistakes to avoid, and practical steps you can implement today to keep your business running smoothly. Plus, you'll get the top tips for forecasting, building a cash reserve...

Taxes can be one of the biggest expenses for entrepreneurs, but most business owners make avoidable mistakes that cost them money and peace of mind. In this episode, learn the most common tax strategy pitfalls, how to avoid them, and actionable steps to help you keep more of what you earn.  Whether you’re just starting out or looking to optimize your tax approach, this episode will help you take c...

In this episode of Things Entrepreneurs Should Know, learn why every business owner needs an exit plan—long before they’re ready to leave. Learn about the most common exit strategies, key steps to maximize your business’s value, and the pitfalls to avoid.  Whether you’re years away from stepping back or just starting to think about your future, this episode gives you practical, actionable advice t...

Feeling the emotional whiplash of running your business? You're not alone. In this episode we deliver invaluable insights to help you conquer stress, tackle burnout, and overcome the fear of failure. From setting realistic goals to celebrating small victories, discover practical strategies to navigate the inevitable highs and lows of entrepreneurship.  Join us as we explore the importance of...

Can your business truly thrive without you? Unlock the secrets to effective delegation and learn how to avoid common pitfalls like the hot potato delegator, the delegation hippie, and the false delegator.  We’ll explore the importance of delegation in creating a self-sustaining business and introduce four impactful levels of delegation. From "follow my lead" where employees follow clear...

Ever found yourself in a cash crunch and wished you'd seen it coming? Learn how to take control of your business finances with a 13-week cash flow projection! In this episode, we break down the steps to create this powerful forecasting tool that helps you visualize your cash inflows and outflows. By anticipating periods of surplus or shortfall, you'll be ready to negotiate with suppliers...

Small businesses often operate as if their sole purpose is to fund the owner’s lifestyle, but the most valuable companies are run with financial rigor. You may be years from wanting to sell, but starting to formalize your operations now will help you predict the future of your business.  Then, when it does come time to sell, you’ll fetch more for what you’ve built because acquirers pay the most fo...

Can your business withstand unexpected crises, or are you leaving it vulnerable to unforeseen threats? In this episode of Things Entrepreneurs Should Know, you'll learn essential risk mitigation strategies that every business owner needs in their toolkit. From identifying and assessing risks to creating robust risk management plans, we cover all the bases to help you safeguard your enterprise...

What if you could protect your hard-earned personal assets from business risks with just a few strategic moves?  In this episode of the Things Entrepreneurs Should Know podcast, we discuss the essential steps to establish your business as a separate legal entity, ensuring your home, car, and retirement funds stay safe even in the face of lawsuits. We'll reveal why forming an LLC or corporatio...

Could understanding the difference between business and personal credit be the game-changer your business needs? In this episode of Things Entrepreneurs Should Know, I unravel the essential steps to building robust business credit. We kick things off by exploring why separating your business and personal finances is crucial, followed by practical advice on registering your business, opening a busi...

Can mastering accounts receivable management really supercharge your business's cash flow? Find out as we unpack the essential strategies for optimizing your receivables process and boosting your financial health. In this episode, Chip breaks down the nuts and bolts of accounts receivable—from setting clear payment terms and ensuring invoice accuracy to utilizing technology for efficiency. Yo...

Feeling overwhelmed by the complexities of business borrowing? We're here to guide you through the labyrinth of different borrowing options available to entrepreneurs. This episode is all about demystifying the process of borrowing, enabling you to make smart and informed decisions for your business. We decode everything from traditional bank loans, SBA loans, business lines of credit to invo...

Ever wondered why some entrepreneurs seem to sail effortlessly towards their goals, while others keep treading water? It's all tied to an intriguing blend of motivation, focus, and drive. But there's one factor that's more important than all of these. In this episode, we pull back the curtain on the science of achievement and delve into a surprising research study that reveals a sim...

Ever wondered what the secret sauce is that makes some companies more valuable than others in the same industry? This episode of Things Entrepreneurs Should Know could hold the answers you've been looking for. With nuggets of wisdom drawn from transactional data of over 55,000 businesses, we explore ten attributes that can push your company's value beyond that of its peers, even if you&a...

Ever wondered about the best business structure for your startup while navigating the maze of tax implications? Well, look no further. We’re shining a light on the complexities of business entities and legal considerations that often befuddle even the brightest of minds. We dissect the limitations of sole proprietorship, analyze the ease of setting up an LLC, and explore the tax advantages of C an...

[ORIGINALLY AIRED AUGUST 3, 2022] Strapped for strategies to keep your business afloat during these tumultuous times? Imagine if you could have a roadmap to deftly navigate the stormy waters of economic downturns. In this episode of Things Entrepreneurs Should Know, your host, Chip Schweiger, provides just that. He shares five invaluable pieces of wisdom that gleaned over his years advising entrep...